Victory Capital Management Inc. Sells 771 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Victory Capital Management Inc. trimmed its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 1.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 50,304 shares of the company’s stock after selling 771 shares during the quarter. Victory Capital Management Inc.’s holdings in Essential Utilities were worth $1,827,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Glenmede Trust Co. NA boosted its position in Essential Utilities by 1.6% during the third quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company’s stock valued at $2,001,000 after buying an additional 803 shares during the period. Synergy Asset Management LLC boosted its holdings in Essential Utilities by 92.8% during the 4th quarter. Synergy Asset Management LLC now owns 148,009 shares of the company’s stock valued at $5,529,000 after acquiring an additional 71,222 shares during the period. Nordea Investment Management AB grew its position in Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after acquiring an additional 972,803 shares during the last quarter. Brighton Jones LLC purchased a new position in Essential Utilities in the 4th quarter worth approximately $638,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Essential Utilities by 8.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,871,932 shares of the company’s stock valued at $72,200,000 after purchasing an additional 149,162 shares during the last quarter. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WTRG. Evercore ISI raised their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. Wells Fargo & Company boosted their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Tuesday, January 28th. Finally, UBS Group reduced their price target on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.50.

Essential Utilities Trading Up 0.9 %

NYSE:WTRG opened at $39.84 on Tuesday. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The company has a 50-day moving average price of $36.27 and a 200-day moving average price of $37.83. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 2.57 and a beta of 0.79.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The business had revenue of $604.38 million for the quarter, compared to analysts’ expectations of $698.77 million. Equities analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a yield of 3.27%. Essential Utilities’s dividend payout ratio (DPR) is 59.91%.

About Essential Utilities

Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. The company operates through Regulated Water and Regulated Natural Gas segments. It offers water services through operating and maintenance contract with municipal authorities and other parties.